Illinois Tool Works (Glenview, Ill.) announced that it has completed the purchase of BagCo, Inc. (Kennesaw Ga.), a leading provider of plastic recloseable packaging for the industrial, medical, and consumer markets. Terms of the transaction were not disclosed.
BagCo, Inc. has been a non-exclusive licensee of the "Color Line" trademark owned by Illinois Tool Works.
"We are very excited about the acquisition of BagCo," said John Stevens, general manager of ITW's Minigrip Division, a leading provider of reclosable packaging technology. "We look forward to continuing the growth of our business with the promotion of our Color Line trademark which we believe symbolizes the highest quality in plastic recloseable packaging."
ITW, a diversified manufacturer of engineered components and industrial systems and consumables in the material handling industry, had $12.8 billion in revenues last year. The company consists of approximately 700 business units in 48 countries and employs an estimated 50,000 people.